Solar installations reach 3 GW and to double in 2015

Since the elections, especially after getting past the anti-dumping case, the Indian solar industry is visibly upbeat
 Cumulative solar installations in India crossed the 3 GW mark with 734 MW installed so far this year, reports Mercom Capital Group in its quarterly update on the Indian solar market.
However, 2014 will be a disappointment with calendar year installations forecasted at about 800 MW, a 20 per cent drop year-over-year. Land acquisition delays due to elections and uncertainty caused by the anti-dumping case contributed to a slowdown in installations. The update also forecasts that 2015 installations will double in 2015, reaching about 1,800 MW. “The Indian solar industry is visibly upbeat since the elections and especially after getting past the anti-dumping case,” comments Raj Prabhu, CEO and Co-Founder, Mercom Capital Group. “Recent cancellations of coal mining licenses by the Supreme Court amid rising coal imports and increasing costs, and continuing power shortages have all contributed to the positive momentum in the solar sector.”

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